Poland

Poland’s central bank halts rate rises, bets that inflation starts easing soon

Wojciech Kosc in Warsaw October 6, 2022

The National Bank of Poland left its reference interest rate unchanged at 6.75%, despite inflation accelerating to 17.2% y/y in September.

NEMETHY: Is the world heading towards a “polycrisis”?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors October 5, 2022

According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.

Polish factories remain in downturn mode in September

Wojciech Kosc in Warsaw October 4, 2022

Poland's Purchasing Managers' Index improved 2.1 points to 43 in September but still lingered below the 50-point mark separating contraction from growth.

Poland’s inflation unrestrained in September at 17.2%, flash estimate shows

Wojciech Kosc in Warsaw October 3, 2022

The flash estimate will present the National Bank of Poland with the dilemma of whether to tighten monetary policy further at a time when the economy is already slowing markedly.

Czechs try to transform EU's relationship with Israel

Robert Anderson in Prague October 3, 2022

As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.

bneGREEN: Fit for 55 – not fit for purpose

Richard Lockhart in Edinburgh September 30, 2022

The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.

More pain stored up for Emerging Europe in 2023

bne IntelliNews September 29, 2022

Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.

Poland worried about Baltic Pipe security after Nord Stream explosions

Wojciech Kosc in Warsaw September 28, 2022

Warsaw fears sabotage of Nord Stream on same day Baltic Pipe opened was no coincidence.

EBRD: Reduced gas supplies and inflation to slow growth further in EBRD regions

EBRD September 28, 2022

The European Bank for Reconstruction and Development (EBRD) projects growth in its region will slow as a result of gas supply problems that are feeding an energy crisis. The bank says growth will slow to 2.3% in 2022 in its region and 3% in 2023.

BRUEGEL: National policies to shield consumers from rising energy prices

Giovanni Sgaravatti for Bruegel, Simone Tagliapietra for Bruegel, Georg Zachmann for Bruegel September 26, 2022

The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.

Kazakhstan offers Europe chance to kick its Russian uranium habit

Aida Kadyrzhanova in Almaty September 26, 2022

Obstacle to hopes is Russia’s ownership of 40% of world's uranium conversion infrastructure, vital to making nuclear fuel.

ING: Eurozone PMI suggests the region may already be in recession

Bert Colijn Senior Economist Eurozone for ING September 26, 2022

The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.

VISEGRAD BLOG: Orban prepares to surf the populist wave again

Robert Anderson in Prague September 25, 2022

But the Hungarian strongman may struggle both to exploit the cost of living crisis and to unite Europe's resurgent radical right, particularly if the Russian-Ukraine war grinds on.

Polish industrial production shows surprise growth of 10.9% in August

Wojciech Kosc in Warsaw September 21, 2022

Demand is still poised to weaken in line with the overall economic slowdown.

Energy crisis: Europe’s industry shutting down

Ben Aris in Berlin September 20, 2022

Dozens of plants across a diverse range of industries such as steel, aluminium, fertilisers and the power industry have been forced to close up shop as sky-high gas and power prices make their businesses lossmaking.

Poland’s core inflation picks up growth rate to 9.9% y/y in August

Wojciech Kosc in Warsaw September 19, 2022

In m/m terms, core inflation grew 0.8% in August versus 0.6% m/m in July.

Poland’s inflation growth confirmed at 16.1% y/y in August

Wojciech Kosc in Warsaw September 16, 2022

Another inflation surge will come in early 2023 after new prices of electricity and heat will have taken effect.

Nuclear power's share dropped to record low in OECD, but solar jumped to record highs thanks to hot summer

bne IntelliNews September 16, 2022

Germany’s decision to take its nuclear power plants offline, coupled with production problems with France’s NPPs, saw the share of nuclear power in the OECD countries year to date fall to its lowest level ever, but solar boomed.

Poland to freeze electricity price for households up to 2,000 kWh consumption

Wojciech Kosc in Warsaw September 15, 2022

Like its neighbours, Poland is facing an energy crisis in 2023 because of the expected huge hikes in electricity and heat prices.

IMF: How food and energy are driving the global inflation surge

Philip Barrett economist for the IMF September 11, 2022

Global inflation was generally moderating when the pandemic began, and the downward trend continued into the early months of the crisis. But surging prices since late 2020 have pushed inflation higher than in all of the last five years combined.

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